DeSaulnier Responds to CalPERS Announcement that it will Directly Engage Companies on Emissions Standards
Washington, DC – In response to calls by Congressman DeSaulnier (CA-11) for the California Public Employees' Retirement System (CalPERS), the nation's largest public retirement fund, to divest from any automobile manufacturer that abandons California's fuel economy standards, CalPERS said it would engage its "portfolio companies to adopt responsible fuel economy and emissions standards." Today, Congressman DeSaulnier pushed CalPERS to lay out its long-term strategy for ensuring that the companies it invests in continue to meet California's fuel economy standards.
"I am pleased that CalPERS is committed to engaging its portfolio companies on emission standards, and that it recognizes that the Trump Administration's policies are contrary to California and CalPERS's values of sustainability and innovation. Engagement is a good first step, and we look forward to hearing the outcome of these efforts. If engagement is not successful, divestment ought to be the next logical action," said Congressman DeSaulnier.
A full copy of the letter can be found here.
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